Almost £1 billion was wiped from the value of S4 Capital, Sir Martin Sorrell’s advertising company, yesterday after it suddenly pulled the publication of its annual results.
S4 Capital’s shares slumped in late trading on the London Stock Exchange after the company said it had been informed by its external auditors at PwC that they were not able to complete the work in time. The stock closed down 172p, or 35.7 per cent, at 310p,
In a brief statement, about half an hour before the stock market closed, the company said that at 2.30pm it had been informed by PwC that “they were unable to complete the work necessary for S4 Capital to release the preliminary statement” this morning.
S4 said that it would look
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2022-03-30 23:01:00Z
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